Petrobras to see gasoline price relief next year.

摘要

The Brazilian government has agreed to raise gasoline prices in 2013, according to Finance Minister Guido Mantega, with state oil company Pettobras hoping that prices more in-line with the global market will offset upwards of $8B in sales losses during the current fiscal year. The company recently rolled out a plan to divest $14.8B in foreign assets throughout Argentina, Japan, the US, and beyond in order to mitigate current debt, which has risen to 2.6 times the company's EBITDA. Long-frozen gasoline prices, in addition to declining output and expensive offshore development, have placed pressure on a planned $235B in investment through 2016, with Petrobras vowing to reduce spending by $15.4B in the same period, at a rate of approximately 8B BRL/y ($3.9B/y).